Yes, it looks like it might finally be the right time to put the For Sale sign in your front yard! Rising home prices and lower inventories are creating new opportunities for home sellers; sometimes even bringing multiple offers to purchase on the same home, as buyers become more confident and try to take advantage of lower interest rates.
Read on to discover more reasons why you should list your home NOW instead of waiting…
- Prices – Homes prices are slowly making a comeback. However, it is still your best bet, to price your home reasonably from the beginning. A newly listed home will have its largest viewing audience the first few days on the market and a properly priced home could see 8+ showings that first week!
- Inventory – The supply of homes is at its lowest point since 2005! Typically, the home inventory increases in the spring season. A stronger demand from buyers and a currently low inventory of homes could help you get your desirable sale price!
- New Construction – The home building industry took a hard hit the past few years, but it is showing signs of making a recovery. Builders are becoming more confident and more active, creating competition for sellers of existing homes.
- Household changes – Family formations are changing and growing, creating a need for “move up” homes. Rental occupancy is also nearing all-time highs. And those that may have fallen on hard times are getting their credit repaired; creating buyers who are more than ready to purchase!
- Interest Rates rising? – It has been projected that interest rates may start to inch up during 2013. This possibility is enough reason to push some homebuyers off the fence and onto the path of becoming homeowners.
- Selling faster – Statistics also show that homes are selling faster. The average days a home was on the real estate market in January was 71, compared to 99 days on the market one year ago!
Once you’ve made the decision to sell your home, here are some other items to consider:
Find the right agent – Interview several, until you feel confident that you have found the right match!
Clean it up – Clean and prep your home right away: do a little painting, some carpet cleaning, and make minor updates. You want your home to make a great first impression!
Consider offers carefully – especially competing offers. Consider ALL terms of the offer, not just the sale price. Things to think about……closing date, inspections, cash down, appraisals, etc.
Plan for the appraisal – Provide the appraiser with comparable sales in your area and be sure to point out special features of your home they might miss!